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Terraces can form as a result of
Marginal Cost
The cost of producing one additional unit of a product or service, which varies depending on the level of production.
Marginal Revenue
The boost in income derived from selling an extra unit of a good or service.
Maximizing Profits
The goal of increasing a company's earnings to the highest possible level through various strategies and operational improvements.
Total Profit
The financial gain made by a business after subtracting all expenses, taxes, and costs from total revenues.
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